Patel Chem Specialities' IPO Set to Boost Expansion Efforts

Patel Chem Specialities launches its IPO, aiming to raise Rs 58.80 crore for expansion. Priced at Rs 82-84 per share, the IPO opens on July 25. Proceeds will fund a new plant for manufacturing CCS and SSG. The company reported FY25 revenue of Rs 105.09 crore.

Patel Chem Specialities, a leading producer of starch-based pharmaceutical excipients, has announced the pricing of its initial public offering (IPO) at Rs 82-84 per share. This move aims to raise Rs 58.80 crore to support the company's strategic expansion plans.

The IPO will commence on July 25 and conclude on July 29, with the shares expected to be listed on the BSE's SME platform. The public offering is an entirely fresh issue of up to 70 lakh equity shares.

The proceeds from the IPO will primarily be used to establish a new manufacturing facility in Indrad, Mahesana, to produce Croscarmellose Sodium (CCS), Sodium Starch Glycolate (SSG), and Calcium Carboxymethylcellulose (CMC). This development is part of the company's broader strategy to enhance its market presence both domestically and internationally.